Mooris Publishing Group Obtains Forbearance

From the Morris Website:
"Morris Publishing Group, LLC announced today that it has obtained forbearance until May 28, 2009 with respect to its failure to make a $9.7 million interest payment on its senior subordinated notes.

The interest payment originally was due Feb. 1, 2009. Holders of more than 80 percent of the outstanding amount of senior subordinated notes agreed to the forbearance.

Morris Publishing.s senior bank group also agreed to waive until May 28, 2009 the cross default arising from the overdue interest payment on the senior subordinated notes."

So the story continues...